ATB Financial closes out fiscal year 2022 with record results and helps propel Alberta into the future
By ATB Financial 26 May 2022 4 min read
Edmonton—ATB Financial wrapped up the fiscal year ending March 31, 2022 by delivering record results which reflect positive momentum returning to the Alberta economy.
A Look Back: The Numbers
Built to help Albertans, ATB Financial reported net income of $586.4 million. Its total revenue grew to $1.9 billion (up 7.1% from last year)—with growth being well diversified between net interest income and other income. The enterprise recorded a loan loss provision recovery of $204 million as a result of its clients’ improved credit quality and its ongoing efforts to support Albertans.
This past fiscal year, the company provided Albertans with $22.8 billion in new and renewed loans, and helped distribute much needed relief program funds amidst COVID-19. ATB Financial administered nearly $1.7 billion (total to date) through the Canada Emergency Business Account (CEBA), the Highly Affected Sectors Credit Availability Program (HASCAP), the Business Credit Availability Program (BCAP) and the Business Development Bank of Canada Mid-Market Financing Program (BDC).
“ATB Financial has emerged from the pandemic in a strong position to help drive Alberta’s economic recovery. We are committed to empowering businesses with expert advice and solutions that will help them grow and prosper,”said ATB Financial CEO and President Curtis Stange. “With impressive results from our core industries of energy and agriculture, growth in both commercial and residential real estate, and rapidly growing technology and clean tech sectors, Alberta is positioned to thrive in this fast changing world.”
ATB Wealth saw a $1.3 billion increase in its Assets Under Administration (a 5.3% increase from last year)—helping to boost other income while continuing to provide strong wealth management services to clients. Additionally, ATB Financial showed a net increase of 10,200 retail and small business clients (up 1.3% from last year)—a testament to the company’s ongoing commitment to client relations.
With its strong focus on expense management, as reflected by consistent efficiency ratio year over year, ATB Financial continues to build a sound balance sheet with capital at record levels.
For full details, see ATB Financial’s 2022 Annual Public Report here.
A Look Ahead: Propelling Alberta Into The Future
Today in Edmonton, ATB Financial is hosting a business summit for industry experts, businesses and community leaders to access sector expertise on economics, energy, agriculture, technology and innovation. From the recent impacts of global unsteadiness, to exciting opportunities that have arisen within the province’s key industries, ATB is shining the spotlight on topics that will help propel Alberta into the future.
“Being ready for tomorrow requires curiosity, adaptability, and expertise,” said ATB Financial President and CEO Curtis Stange. “We know that more volatility and uncertainty are on the horizon but we choose to look at this as a time of incredible possibility and opportunity. Built to help Albertans, ATB Financial is well-positioned to lead through disruption, spark economic growth and drive meaningful change for our clients, and for Alberta.”
Fiscal Year 2022 Highlights (see annual report for full list)
Built to help Albertans:
- Continued to improve the digital experience by migrating nearly 360 thousand personal banking clients to ATB Financial’s new personal banking platform and more than 55 thousand business clients to the new business banking platform.
- Installed over 160 new automated banking machines to help clients access self-serve options.
- Funded $3.4 billion in new mortgages (over the full fiscal year), with the month of June shattering a seven-year record for mortgage applications.
ATB Investment Management Inc., a subsidiary of ATB Financial, won a Refinitiv Lipper award for best mixed asset group for 2021; and in Q1, ATB Wealth business set a new record, with the highest gross assets gathered in the first quarter in nearly 20 years.
Positioning ATB Financial for the future:
- Joined Canada’s Sustainability Finance Action Council and Task Force for the newly formed International Sustainability Standards Board and announced a new Chief Legal and Sustainability Officer to lead the development of ATB Financial’s ESG strategy.
- Capital Markets continued to expand its capabilities by introducing ESG into investment research and by adding a new Head of Investment Banking; and in Q2, it completed the largest debt capital markets deal in ATB Financial history.
- ATB Ventures introduced Humans of 2030+, a digital tool to help anticipate client needs and support them in their unique financial journey.
- ATB Ventures advanced its digital identity product suite with the launch of Proof.
- Great Place to Work® Canada named ATB Financial as one of 2022’s Best Workplaces for Hybrid Work, one of Canada’s Great Places to Work for Mental Wellness, and one of the Best Workplaces in Canada. Additionally, President and CEO Curtis Stange was listed as one of the Top 50 Financial Technology CEOs of 2022.
In business for the Greater Good:
- ATB Financial released a first-of-its-kind Indigenous Economic Report, with a third party contributor, which is helping advance the conversation of the critical role Indigenous communities play in Alberta.
- Raised $4.8 million for charities through ATB Cares and $596 thousand through team member fundraising and giving efforts in support of organizations that are uplifting the well-being of Alberta communities.
- ATB Financial and its team members donated nearly $150 thousand to the Canadian Red Cross Ukraine Humanitarian Crisis Appeal.
About ATB Financial
With $57.1 billion in assets, ATB Financial is an Alberta-built financial institution that is a catalyst for economic growth in our province. We got started in 1938 to help Albertans through tough economic times. Today, ATB Financial’s 5,000 team members love to deliver exceptional experiences to 810,000 clients through our many branches and agencies, our 24-hour Client Care Centre, four entrepreneur centres, and our digital banking options.
For more information or interview requests, please contact:
ATB Financial, Media Relations